Jaguar and Land Rover: Tata Ford identifies as privileged interlocutor

DETROIT _ The automaker Ford Motor Co. announced Thursday that it was committed to negotiate in more detail with the Indian Tata Motors a possible sale of its Jaguar and Land Rover divisions.

In a brief communicates officer of Ford, Lewis Booth, says that there is still considerable work to do, and although there has not been a final decision, Ford would hold substantive discussions with Tata Motors over the coming weeks to reach an agreement that would have in the best interest of all INVOLVED parties.

Ford management has already announced plans to get rid of these two British divisions at the beginning of 2008.

Two other companies were in the running for the acquisition of Jaguar and Land Rover, is the Indian automaker Mahindra & Mahindra Ltd.. and American investment firm One Equity Partners LLC.

An informed source of the negotiating has said Thursday that applications for Mahindra and One Equity have not been completely ruled out, specifying that Tata is presented as privileged interlocutor only.

Ford bought Jaguar in 1989 and Land Rover U.S. $ 2.5 billion to U.S. $ 2.7 billion in 2000. Both British manufacturers, with Aston Martin and Volvo, were the division Premier Automotive Group.

Ford sold its majority stake in Aston Martin last year to U.S. $ 931 million. As for Volvo, Ford said it expects to keep this division yet, reorganize its cost structure and make it more of a prestige brand.